NUE is scheduled to announce earnings in the after market today 22 July 2024. Nucor pre-releases their estimated earnings per share which for the second quarter they are expected to report $2.30 in comparison to $5.81 per share last year.With the company's guidance the 2024 expected EPS is $10.42. For 2025 analyst expect an EPS of 12.01. That translates to a EPS of about 15%.
10.42*15 = $156.3
A price of $156.3 doesn't translate to much downside with only a 3%. However that is based on analyst estimates which have underperformed for the last two quarters.
If you average the P/E ratio of Nucor over the last 7 years the P/E equals about 11. If we apply that to the 2024 estimated earnings it would be:
10.42*11 = $114
I would use these two P/E estimates of $156.3 and $114 as upper and lower bounds for Nucor.
Targets for trade are:
#1: $140
#2: $130
Stop Loss:
#1: $170
Entry Point:
>= $160
Trade closed: target reached
Target reached. Close trade.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.